Lightbox leads $45 mn Series D in hyperlocal logistics startup Dunzo
Bengaluru-based hyperlocal logistics startup Dunzo has raised $45 million in its Series D funding round, led by venture capital firm Lightbox Ventures.
New investors South Korea’s STIC Ventures and US-based 3L Capital and returning investor Google also participated in the round, the startup said in a statement.
Dunzo will be deploying the funds to establish itself as the logistics layer for India, picking up and dropping almost anything and everything a consumer could want to buy and ship while integrating merchants and delivery partners on the platform, the statement said.
After the latest fundraise, the company is reportedly valued at $180-200 million.
It was reported last month that the company was looking for fresh funds from Lightbox Ventures.
The company was founded in 2015 by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha. It fulfils tasks like grocery and restaurant deliveries, instant local courier and home services.
“Over the last year, we have built a model that understands Indian cities deeply and empowers offline commerce to deliver to consumers instantly. We believe in giving local merchants a fighting chance while creating sustainable earning opportunities for delivery partners. We are on course to building the largest commerce platform in the country with the most efficient logistics solution for each city,” Biswas said.
The latest round may see an additional $10 million being added to the pool, taking the total size to about $55 million, The Economic Times reported.